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Remember when Warren Buffett opened his wallet to reveal $400 in cash and an American Express card? The man, worth $89 billion, could’ve had his pick of any ultra-exclusive credit card, including the American Express Centurion Card (or better known as the Amex Black Card). Instead, he carried an old school, classic green Amex card — one that’s been in his possession since 1964.

What are the best credit cards for millionaires? Photo by Engin Akyurt from Pexels

While we all know Buffett is an anomaly, others in the mega-rich league may have more prestigious plastic in their wallets. It could be a posh, invite-only card that has no spending limit (Bank of Dubai First Royale Mastercard) or it could be a credit card loved by the masses (Chase Sapphire Reserve).

Cards that are favored by the rich are packed with perks and features to pamper them when they travel, eat at restaurants, and make purchases.

Millionaires Want Perks, Just Like the Rest of Us

The desire for a credit card that offers solid rewards, low fees, and great customer service span across all incomes, whether you make more than seven figures or not.

Many of these extras are focused on travel, including:

  • Airport lounge access
  • Partial credit for ticket purchases
  • Primary car rental insurance
  • Trip cancellation/interruption insurance
  • Credits for ride-sharing services
  • No foreign transaction fee

Ever wondered what millionaires carry in their wallets? Here’s a glimpse into the best credit cards for millionaires.

Pro Tip: Many of these cards carry incredible benefits and aren’t only available to the mega-wealthy. The good news is, if you see value in the benefits, have great credit, and are willing to fork over the annual fee (upwards of $450) you can get yourself one of these best travel credit cards too (with the exception of the invite-only cards).

The Platinum Card by American Express

  • Annual fee: $550 (See Rates & Fees)
  • Can you get this card? Yes.

Unlike some of the other cards on this list, The Platinum Card® from American Express is an elite card, but it’s not invite-only.

The Platinum Card is terrific for the wealthy who travel frequently, as it is the only card that has Global Lounge Collection, its proprietary lounge, with locations around the world.

Here are more benefits that come with the card:

  • Complimentary benefits with an average total value of $550 with Fine Hotels & Resorts
  • $200 Airline Fee Credit
  • Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December

Earn 5x Membership Rewards® Points for flights booked directly with airlines or with American Express Travel. Starting January 1, 2021, earn 5x points on up to $500,000 on these purchases per calendar year. Cardholders also earn 5x points on prepaid hotel bookings through

New cardmembers can earn 75,000 bonus Membership Rewards® Points after spending $5,000 on purchases in the first 6 months of account opening. Cardholders also earn 10x points on eligible purchases at U.S. gas stations and U.S. supermarkets, up to $15,000 in combined purchases, during your first 6 months of card membership.

Learn more: Johnny Jet Recommended Credit Cards

Chase Sapphire Reserve

  • Annual fee: $550
  • Can you get this card? Yes.

There’s no surprise that millionaires also love the Chase Sapphire Reserve perks. It’s an all-time traveler’s favorite, named Money Magazine’s Premium Travel Card for 2018. The card comes with a generous 50,000 bonus points if you spend $4,000 in the first three months of opening your account.

It also offers:

  • $300 Annual Travel Credit reimbursement for travel purchases
  • 3X the points on travel (once you earn the $300 travel credit), restaurants
  • No foreign transaction fees
  • 50 percent more value when redeeming points through Chase Ultimate Rewards
  • 1:1 point transfer to airline partners

If you aren’t a millionaire but are still looking for credit cards that earn you plenty of travel perks and rewards, cards like the Chase Sapphire Preferred or the Capital One Venture Rewards Credit Card can still be very useful. The Chase Sapphire Preferred, the Sapphire Reserve’s sister card, comes with the ability to transfer points earned for award travel along with the ability to earn 2x points on dining and travel.

If you’re wondering how hard is it to get Capital One Venture or some of the other best travel credit cards for miles options, you might want to check out the CardMatch™ tool.

You can use it to learn more about what kind of credit card pre-approval chances you’re looking at.

JP Morgan Reserve Credit Card

  • Annual fee: $450
  • Can you get this card? No, it’s invite-only.

You may not have heard of the JP Morgan Reserve Credit Card from Chase. That’s because it’s only for customers who have at least $10 million in assets under management from J.P. Morgan Private Bank.

The card comes with prime benefits, including:

  • Up to $300 in credits for travel purchases each year
  • 3 points per $1 spent on travel and dining at restaurants
  • All other purchases get you 1 point per $1
  • 24/7 access to the Visa Infinite Concierge service
  • (unpublished benefit) United Club access

Bank of Dubai First Royale Mastercard

  • Annual fee: $2,000
  • Can you get this card? No, it’s invite-only.

Dubbed as the millionaire’s best friend, Bank of Dubai First Royale Mastercard is another ultra-elite, invite-only credit card that reportedly includes cardholders that are from royal families of Dubai and Saudi Arabia.

It’s considered to be one of the most exclusive cards in the world, with only 200 or so cardholders who actually have one. The fee alone is reportedly $2,000 a year.

While there aren’t any specified benefits listed on their site, the general understanding is that cardholders have privileges that have no limitations.

Some jaw-dropping perks include:

  • No spending limits and a guaranteed approval of all charges.
  • A dedicated relationship and lifestyle manager that is on beck and call 24 hours a day. This person can arrange everything from dinner reservations to booking a private jet.

American Express Centurion Card

  • One-time fee of $7,500
  • Annual fee: $2,500 (See Rates & Fees)
  • Can you get this card? No, it’s invite-only.

Nothing says “I’m part of the exclusive” more than the American Express Centurion Card, also known as the Amex Black Card.

In order to even qualify for this card, it’s been said that you need to have spent at least $100,000 a year in purchases or more in the previous year. There is also no preset spending limit, which means you can buy that private plane you’ve always wanted.

Here are some perks that cardholders can enjoy:

  • A dedicated concierge
  • A personal travel agent
  • Complimentary travel tickets for companions
  • Free nights at select hotels
  • Access to numerous airport clubs

You Don’t Have to Be a Millionaire

Most of us will never need to worry about carrying a swanky, invite-only card in the near future. However, we can still make use of credit cards that come with solid bonus rewards and perks that afford us a little extra luxury and comfort. You can always start out with one of the best travel credit cards for beginners and work your way up the credit card ladder.

For more information on the Centurion® Card from American Express, please click here.

For rates and fees of The Platinum Card® from American Express, please click here.

Claire Tak

Chase Sapphire Preferred® Card

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.

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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.

2 Comments On "What Are The Best Credit Cards For Millionaires?"
  1. Boraxo|

    You missed a key unpublished feature of the JPM card which is a free United Club membership

    1. Johnny Jet Editorial|

      Thanks for catching!

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